Description
JUST REDUCED! 4 UNITS - 9,3 CAP RATE - OPPORTUNITY AWAITS IN THE OPPORTUNITY ZONE!This property is fully rented with two long term residents, 3 years and 7 years, and two newer residents in the last year. Originally built as a commercial storefront, Previous owner revamped the interiors into four individual apartments. As the property has just one water and electric meter, Seller includes utilities as part of the rental rate. Seller says he has a wait list should there be a vacancy. Property has a newer roof and parking both in front and to the rear as the lot is a street to street lot. Located on a major thoroughfare with a traffic count of nearly 12,000 vehicles per day, this location has a tremendous street exposure. Add to that it's proximity to the new baseball stadium (just 2.5 miles to the West) due to be completed in 2025, this is truly an opportunity for a first time investor or seasoned veteran. The C-G General Commercial Zoning District is intended to provide for a heterogeneous mix of retail, personal service, office, and residential use giving the new owner many options going forward.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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2,610SQFT
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$123$/SQFT
School Ratings & Info
Description
JUST REDUCED! 4 UNITS - 9,3 CAP RATE - OPPORTUNITY AWAITS IN THE OPPORTUNITY ZONE!This property is fully rented with two long term residents, 3 years and 7 years, and two newer residents in the last year. Originally built as a commercial storefront, Previous owner revamped the interiors into four individual apartments. As the property has just one water and electric meter, Seller includes utilities as part of the rental rate. Seller says he has a wait list should there be a vacancy. Property has a newer roof and parking both in front and to the rear as the lot is a street to street lot. Located on a major thoroughfare with a traffic count of nearly 12,000 vehicles per day, this location has a tremendous street exposure. Add to that it's proximity to the new baseball stadium (just 2.5 miles to the West) due to be completed in 2025, this is truly an opportunity for a first time investor or seasoned veteran. The C-G General Commercial Zoning District is intended to provide for a heterogeneous mix of retail, personal service, office, and residential use giving the new owner many options going forward.
© 2023 Knoxville Area Association of REALTORS®, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Heart Strong Home Group | Keller Williams. Information is deemed reliable but is not guaranteed accurate by the MLS or Heart Strong Home Group | Keller Williams. Data last updated: 2023-06-10T19:19:09.26.